Small Business Owners More Optimistic than General Public, Survey Says

Businesses are feeling more positive about 2017 than the general public. That’s according to a new survey by New York Life.

According to the study, 60 percent of small business owners are optimistic about their financial expectations for their business in 2017. In comparison, just 43 percent of Americans age 30 and over say they feel positive about their personal finances.

“Small business owners are heading into 2017 with good feelings, and this was consistent across size and years in business,” said Brian Madgett, Vice President, New York Life.

Small Business Owners are Optimistic About 2017

Reasons for Small Business Optimism

The survey looked into factors contributing to the growing optimism among small businesses.

It found business owners expect technology (75 percent), the new political landscape (57 percent) and the employment market (56 percent) to have a positive effect on their businesses.

The findings echo another recent survey that found small businesses (51 percent) believing their companies to be better off under the leadership of President Donald Trump.

Small Businesses Planning for 2017

Driven by their optimism, small businesses are making some big plans for 2017.

About 66 percent of businesses plan to incorporate mobile technology in their business. Sixty-four percent plan to network more with other business owners and/or professionals.

Sixty-two percent are planning to grow their company and plans to hire more employees (52 percent) are also high on their agenda.

“Small business owners have big plans for 2017, with many looking to incorporate tech, seek capital, hire, improve offerings to employees and explore ways to better manage their money,” said Madgett.

“We’re hearing positive economic sentiments across the country in our conversations with small business leaders.”

For the survey, an Ipsos poll was conducted on behalf of New York Life. A sample of 1,244 U.S. adults over the age of 18 was interviewed online.

Shubhomita Bose is a Staff Writer for Small Business Trends. She covers key studies and surveys about the small business market, along with general small business news. She draws on 8 years of experience in copywriting, marketing and communications, having worked extensively on creating content for small and medium sized enterprises.

2 Reactions

Small business owners have a different attitude towards change because most of them have gone through the worst to put up their businesses. So I think that they have a unique strength that makes them optimistic on what’s to come.

Subscribe

Sponsor Spotlight

Relieve Stress and Release Creativity!Adult coloring is a popular activity among creative types. Our sugar skulls coloring book can provide stress relief to overloaded business professionals and lead to creative breakthroughs. Give it a try today! >>

Small Business Resources

About Small Business Trends

Founded in 2003, Small Business Trends is an award-winning online publication for small business owners, entrepreneurs and the people who interact with them. It is one of the most popular independent small business publications on the web.

Together with hundreds of expert contributors, Small Business Trends brings you the news, advice and resources you need. "Small business success... delivered daily."